YKVN Receives “Deal of the Year” Award for Its Role in Dong Nai 3-4 Power Plants Financing

Hanoi/Ho Chi Minh City (February 2007) – The US$ 255 million financing of Dong Nai 3-4 Power Plants was named a “Deal of the Year” by Asian Counsel, a leading journal covering legal transactions in Asia. This deal was named as one of the top 30 deals closed in Asia in 2006 and this was the only deal from Vietnam. According to Asian Counsel “[a]n impressive list of 370 deal submissions were sent in from nearly 60 firms in Australia, China, India, Indonesia, Hong Kong, Japan, Malaysia, the Middle East, Singapore, South Korea, Thailand and Vietnam” and “[t]hese top deals stood out because of their size, complexity, uniqueness or a combination of these characteristics.”

The sponsor of the Dong Nam 3-4 Power Plants is Electricity of Vietnam (EVN) and the syndicated financing is arranged by the Bank for Foreign Trade of Vietnam (Vietcombank). This was one of a few large project finance transactions closed in Vietnam in 2006. The total project costs are estimated at approximately US$ 527 million and the project is financed by two domestic tranches, a US$ 255 million by the 4 State-owned banks and a US$ 45 million by the Development Assistance Fund of Vietnam, and a US$ 90 million ECA guaranteed international tranche (for 85% of equipment costs).

The YKVN team was led by Partner Duong Thu Ha (Hanoi) and Vu Dzung (Ho Chi Minh City).